Intellectual Property & Patents

Today intellectual property (IP) has taken on a new meaning and it’s about building value. At LifeSciences Technology we understand the enormous economic potential and value of patents and intellectual property. Both can provide a company with a critical competitive edge in business. In fact, they are fast becoming the key in determining the winners and losers on the business battlefield.

What is intellectual property?
Intellectual property is defined as the recognized legal property rights for creations of the mind such as inventions, literary/artistic works, symbols, names, images and designs…all of which are used in commerce.

Intellectual property law aims to protect the creators of intellectual goods and services by granting them specific time-limited rights to control the use of their creations.

What is a patent?
A patent is an exclusive right granted by a government for a specific invention (a product or a process) that sets forth a new way of doing something or provides a novel technical solution to a problem.

What does a patent do?
A patent provides protection for the invention to the patent owner. This protection is granted for a limited period of time, usually 20 years, in which the invention cannot be commercially manufactured, distributed or sold without the patent owner’s explicit authorization.

What rights does a patent owner have?
A patent owner has the right to decide who may or may not use the patented invention during the period in which the invention is protected. The patent owner may also provide permission to use, or license the right to use the invention… even transfer or sell the rights to the invention to another party, who then becomes the owner of that particular patent. Once a patent expires, so does the protection along with the patent owner’s exclusive rights to the invention. The invention then enters the public domain and becomes available for commercial use by others.

How can companies tap the asset values of their intellectual property and patents?
Both can be used to:

Improve return on investment for R&D and seed continuing innovation

Generate new revenues through licensing

Boost earnings per share and total shareholder return

Raise corporate valuations and enhance equity and other financing opportunities

Serve as the currency of mergers, acquisitions and joint ventures

C-level executives can also utilize IP portfolios as a competitive tool to:

Acquire exclusive rights to emerging market-leading technologies

Increase R&D effectiveness and avoid infringement minefields

Detect possible infringers as well as likely sources of licensing income

Creative inventors make all of this happen. LifeSciences Technology can help you or your company navigate, develop and deploy patent strategies for competitive advantage and profitability.

The content provided on the page(s) of this site is to be used for informational purposes only. This information is not intended to provide nor should anyone consider that it provides legal advice. For such advice LifeSciences Technology encourages you to contact the appropriate legal professional(s) to assess your specific needs and to render advice accordingly.

Although many of the patents listed on other pages of the site were assigned to Ellman International, ElliQuence, LLC and others as part of the sale of Ellman International, Jon Garito remains the inventor
or co-inventor.